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Hedge Funds: Courtesans of Capitalism
ISBN: 0471899739     Date Published: 2001-03-30     Author(s): Peter Temple
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280 Pages
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06/20/2013 01:33:29
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Editorial Review - Book Description:
Like the courtesans of a bygone age, hedge funds cater to the wealthy and project an aura of mystery and excitement. But as the Long Term Capital Management debacle showed, their activities affect us all.
Far from neutralising risk, as their name might suggest, some are simply vehicles for large-scale speculation - raiding currencies, disrupting bond markets, and embarrassing governments.
This book looks in detail at the secret world of hedge funds, how they work, the larger than life characters who run them, their private passions and the risks they run.
Customer Review:
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2 of 2 People found the following review helpful.

Author was correct: 2008-09 Wall Street turmoil almost brought U.S. financial system down, September 29, 2010 (Los Angeles, CA USA) - See all my reviews This review is from: Hedge Funds: Courtesans of Capitalism (Hardcover) Of course, there are many books on hedge funds (HF), though nobody challenged irresponsible behavior of governing authorities and HF managers better than the author of this well researched content. 2008-09 Wall Street turmoil almost brought U.S. financial system down. It happened 10 years after this book was published... The main point Peter Temple was making in the book - too often governing authorities "turn a blind eye to their activities" and this enables hedge funds to brake currencies, bankrupt economies and destabilize the financial system. LTCM case showed how well connected HF managers are as was historically the case with the professionals in comparison. I like that author introduce the Sharpe ratio with concrete numbers, not abstract formula: "Let's say for the sake of argument that we have two funds: one with an annual return of 24% and a volatility of 20%, and one with a return of 16% and a volatility of 10%. The rate of return on three-month Treasury...
1 of 8 People found the following review helpful.

Better Places to find an introduction to Hedge Funds, March 2, 2003 By A Customer This review is from: Hedge Funds: Courtesans of Capitalism (Hardcover) There are much better books that providing an introduction to Hedge Funds. I would suggest either "The Prudent Investor's Guide to Hedge Funds: Profiting from Uncertainty and Volatility" by James P. Owen or "Investing in Hedge Funds" by Joseph Nicholas. If you are interested in learning more about the leading hedge fund personalities and organizations I would suggest the book "The New Investment Superstars: 13 Great Investors and Their Strategies for Superior Returns" by Lois Peltz.
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